Platinum reserves in Jinchuan accounts for 90% of the total reserves of China. Jinchuan Group Limited own all the platinum fields and mines in Jinchuan area.
Jinchuan Group Limited operates China’s largest nickel mine in northwestern Gansu province and produces about 90 percent of the country’s nickel, which is used in stainless steel, plating and batteries.
It is also the country’s fourth-biggest copper producer and the largest producer of cobalt and platinum group metals.The output of platinum group metals accounts for more than 90% of the total in China.
Jinchuan has annual capacity of 150,000 tonnes of nickel, 400,000 tonnes of copper, 10,000 tonnes of cobalt, 3,500 kilograms of platinum group metals, 8 tonnes of gold, 150 tonnes of silver, 50 tonnes of selenium and 1.5 million tonnes of chemicals.
The executive said Jinchuan’s revenue reached 37.9 billion yuan in the first eight months of the year, up 77.1 percent from a year earlier.
During that period the firm also recorded a pretax profit of 8.3 billion yuan, with net profit expected to be about 55 to 60 percent of that level, he said.
In 2006, Jinchuan produced 101,000 tonnes of nickel, 205,000 tonnes of copper, 6,300 tonnes of cobalt and 1.1 million tonnes of chemicals, making it the world’s fifth-biggest nickel producer and second-largest cobalt maker.
Jinchuan is 69.567 percent owned by the Gansu government, 16.515 percent held by China Development Bank and 2.038 percent owned by Gansu’s Industry and Transport Investment Co, an investment arm of the local government.
Taiyuan Iron and Steel and Baosteel Group, the two top producers of stainless steel in China, each hold 5.94 percent of Jinchuan.